| Schedule of Stock Option Plan Activity |
Activity under the 2021 EIP is set forth below:
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Options |
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Weighted-
Average
Exercise
Price |
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Weighted-
Average
Remaining
Contractual
Term
in years |
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(In thousands) |
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(Per share data) |
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(Years) |
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Outstanding as of December 31, 2023 |
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25 |
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$ |
320.25 |
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6.2 |
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Granted |
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— |
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$ |
— |
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Exercised |
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(3 |
) |
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$ |
94.50 |
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Forfeited or expired |
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(4 |
) |
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$ |
178.95 |
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Outstanding as of September 30, 2024 |
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18 |
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$ |
388.65 |
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5.3 |
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Options vested and expected to vest as of September 30, 2024 |
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18 |
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$ |
388.65 |
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Vested and exercisable as of September 30, 2024 |
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18 |
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$ |
390.00 |
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Outstanding as of December 31, 2024 |
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18 |
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$ |
380.70 |
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5.0 |
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Granted |
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— |
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$ |
— |
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Exercised |
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— |
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$ |
— |
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Forfeited or expired |
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(14 |
) |
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$ |
167.96 |
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Outstanding as of September 30, 2025 |
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4 |
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$ |
1,028.92 |
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4.6 |
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Options vested and expected to vest as of September 30, 2025 |
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4 |
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$ |
1,028.92 |
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Vested and exercisable as of September 30, 2025 |
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4 |
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$ |
1,028.92 |
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| Schedule of Nonvested Restricted Stock Units Activity |
The following table summarizes outstanding and expected to vest RSUs as of September 30, 2025 and 2024 and their activity during the nine months ended September 30, 2025 and 2024:
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Number
of Shares |
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Weighted-
Average
Grant Date
Fair Value |
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Aggregate
Intrinsic
Value |
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(In thousands) |
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(Per share data) |
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(In thousands) |
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Balance as of December 31, 2023 |
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38 |
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$ |
1,020.00 |
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$ |
7,940 |
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Granted |
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28 |
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53.10 |
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— |
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Released |
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(26 |
) |
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342.90 |
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— |
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Cancelled |
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(11 |
) |
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878.70 |
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— |
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Balance as of September 30, 2024 |
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28 |
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$ |
742.95 |
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$ |
310 |
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Expected to vest as of September 30, 2024 |
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28 |
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$ |
742.95 |
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$ |
310 |
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Balance as of December 31, 2024 |
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13 |
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$ |
714.30 |
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$ |
132 |
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Granted |
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1,237 |
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18.81 |
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— |
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Released |
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(220 |
) |
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26.88 |
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— |
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Cancelled |
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(66 |
) |
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24.92 |
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— |
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Balance as of September 30, 2025 |
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|
964 |
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$ |
25.01 |
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$ |
2,961 |
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Expected to vest as of September 30, 2025 |
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|
964 |
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$ |
25.01 |
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$ |
2,961 |
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| Schedule of Stock-Based Compensation Expense |
The following sets forth the total stock-based compensation expense by type of award included in operating expenses on the statements of operations:
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Three Months Ended
September 30, |
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Nine Months Ended
September 30, |
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2025 |
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2024 |
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2025 |
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2024 |
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(In thousands) |
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(In thousands) |
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Restricted stock units |
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$ |
1,905 |
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$ |
2,445 |
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$ |
7,228 |
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$ |
9,375 |
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Stock options |
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— |
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16 |
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5 |
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115 |
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Earnout shares—employees |
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718 |
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1,246 |
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1,873 |
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3,551 |
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$ |
2,623 |
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$ |
3,707 |
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$ |
9,106 |
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$ |
13,041 |
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The following sets forth the total stock-based compensation expense for the stock options, RSUs, and earnout shares - employees included in cost of revenue and operating expenses on the statements of operations:
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Three Months Ended
September 30, |
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Nine Months Ended
September 30, |
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2025 |
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2024 |
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2025 |
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2024 |
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(In thousands) |
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(In thousands) |
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Cost of 3D Printer and parts |
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$ |
441 |
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$ |
228 |
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$ |
1,054 |
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$ |
886 |
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Cost of Support services |
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154 |
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249 |
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348 |
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|
582 |
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Stock-based compensation recorded in cost of revenue |
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595 |
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477 |
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1,402 |
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1,468 |
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Research and development |
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965 |
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1,199 |
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2,220 |
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3,879 |
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Selling and marketing |
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|
510 |
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643 |
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1,117 |
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2,559 |
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General and administrative |
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|
553 |
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1,388 |
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4,367 |
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|
5,135 |
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Stock-based compensation recorded in operating expense |
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2,028 |
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3,230 |
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7,704 |
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|
11,573 |
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Total stock-based compensation expense |
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$ |
2,623 |
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$ |
3,707 |
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$ |
9,106 |
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$ |
13,041 |
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